Global Top 10 Financial Institution Selects SSH Communications Security to Deliver Secure Shell Key Management Across Its Entire Enterprise
Universal SSH Key Manager™ to Provide Leading Bank with Access Control and Centralized Key Management for Thousands of Servers Worldwide – Other Major Banks Also Currently Evaluating for Use in Their Environments
Helsinki, FI and Wellesley, MA – SSH Communications Security, known the world over as the inventor of the SSH protocol, today announced that its Universal SSH Key Manager™ solution was selected by a top 10 global financial institution to deliver licenses, maintenance and professional services encompassing thousands of servers across its global networks in a deal estimated at $2.5 million (EUR 2 million).
Once fully implemented, this project will represent, to date, the largest secure shell access control and centralized key management deployment in the world. In addition, this customer will be deploying the solution into an OpenSSH environment. SSH Communications Security will recognize the revenue during fiscal years 2012-14.
“After a highly successful proof-of-concept evaluation, our customer was eager to get started,” said Matthew McKenna, SSH vice president of sales and marketing. “Our ability to discover, create, deploy, remove and automatically rotate keys delivers an immediate impact to our customers’ bottom line, dramatically improves security and enables compliance with both internal and external governance mandates.”
SSH performed an economic analysis in conjunction with its recent launch customers showing that a typical large organization can expect to pay more than $3.8 million annually on user key generation alone. Universal SSH Key Manager lets customers recapture deployment costs in less than two years and reduces ongoing IT operations expenses by nearly 80 percent through full SSH key lifecycle management.
“With Universal SSH Key Manager, large enterprises can significantly reduce the time and money spent on inefficient key creation processes while protecting themselves against significant risk,” said Tatu Ylönen, CEO of SSH. “By safely identifying and managing those trust relationships through key creation, removal and rotation, Universal SSH Key Manager provides enterprises with access controls over their environment.”
Several other global financial institutions are currently testing the product in their environments and SSH is currently engaged with over a dozen others. SSH Communications Security is the inventor of the secure shell (SSH) protocol, the gold standard for data-in-transit encryption. Secure shell is used across the world for managing secure environments. Through its Information Assurance Platform, SSH delivers the most comprehensive centralized secure shell management solutions available on the market.
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About SSH Communications Security
Founded in 1995, SSH Communications is the company that invented the SSH protocol - the gold standard protocol for data-in-transit security solutions. Today, over 3,000 customers across the globe, including 7 of the Fortune 10, trust our Information Assurance Platform to secure the path to their information assets. We enable and enhance business for thousands of customers in multiple industries in the private and public sectors around the world. We operate in the Americas, Europe, and APAC regions, with headquarters located in Helsinki, Finland. The company shares (TEC1V) are quoted on the NASDAQ OMX Helsinki.
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